Magnum Hunter Stock Avg Falls Below $1, Receives NYSE Warning
Magnum Hunter Resources has become the third Marcellus/Utica drillers (out of eight) on David Fessler’s “Oil Company Death List” (see 19 Oil/Gas Companies on “Death List” – 8 are in Marcellus/Utica) to receive a notice from the New York Stock Exchange that the company’s stock is in danger of being de-listed because the average price per share has fallen below $1.00 over a consecutive 30-day period…
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Midstream giant Williams and drilling giant Chesapeake Energy are cuddling a little bit closer in the Ohio Utica Shale. Williams announced today they have signed an agreement with Chesapeake to run gathering pipelines in a new area of the dry gas Utica for Chesapeake in return for signing a contract that binds Chessy to using Williams until 2035. Williams was already gathering natural gas for Chessy on 140,000 acres of Utica Shale land in Ohio. This agreement extends the time on that 140,000 acres by adding another 20 years, and adds another 50,000 acres to the mix…
Oilfield service giant Baker Hughes released their venerable monthly rotary rig count report today for August 2015. The numbers worldwide improved–the international rig count for August was 1,137, up 19 from the 1,118 counted in July. Looking specifically at the U.S., onshore (mostly shale) rig counts climbed from 835 in July to 849 in August, up 14. It does indeed seem as if we’ve turned a corner. This is the second month in a row that U.S. land-based rigs increased month over month (see 
More than 3 1/2 years ago (in January 2012) MDN told you about a plan in West Virginia to use a process patented by Union Carbide in the 1970s to build an ethane cracker plant on the cheap–much less than the typical “world scale” crackers announced by Shell, Odebrecht and others since that time (see 
A few more details about the proposed site for an ethane cracker plant in Belmont County (see 
Pennsylvania’s Democrats continue to fight dirty in the budget battle–in their losing effort to pile big taxes on a single industry, the Marcellus Shale industry. The latest in the dirty war they’re waging: the extremely partisan Democrat-controlled so-called Independent Fiscal Office (yes, a PA state government office funded by taxpayers) has issued a report to sycophantic media outlets (but not the general public via its website) to forecast a decrease in Marcellus Shale impact fee revenue for 2015…
EV Energy Partners (EVEP), an upstream master limited partnership (MLP) created by EnerVest, announced they will purchase oil and natural gas properties from the mothership EnerVest in four different locations, one of them being Appalachia (i.e. Marcellus/Utica). EVEP will pay the parent company $259 million for properties in Appalachian Basin, San Juan Basin, Michigan and Austin Chalk with cumulative estimated proved reserves of 302 billion cubic feet equivalent (Bcfe)…